Daily Current Affairs (Beepedia) 19th June 2024

RBI, Banking and Economy

• RBI Cancels Purvanchal Cooperative Bank’s Licence
• The Reserve Bank of India (RBI) revoked the licence of Purvanchal Co-operative Bank in Ghazipur, Uttar Pradesh, due to inadequate capital and bleak earning prospects. Deposit insurance coverage allows depositors to receive up to Rs 5 lakh.
• Fitch Ratings Raise India FY25 GDP Forecast to 7.2%
• Fitch Ratings increased India's GDP growth projection for FY25 to 7.2%, attributing the revision to expected recovery in consumer spending.
• Zurich Acquires 70% Stake in Kotak General Insurance
• Zurich Insurance Company Limited acquired a 70% stake in Kotak Mahindra General Insurance for Rs 5,560 crores ($670 million), marking the largest foreign investment in India's general insurance market since the FDI limit increase in 2021.
• HUDCO's Syndicated Loan Market Entry
• HUDCO raised $200 million (JPY 30 billion) through its first syndicated loan, arranged by Japan's SMBC, to expand its social housing platform and enhance urban infrastructure in India.
• SBI Infrastructure Bonds Issuance
• State Bank of India (SBI) plans to raise Rs 10,000 crore through infrastructure bonds, marking the first bond issuance for this fiscal year.

SEBI and Financial Awareness

• SEBI Penalties on Hexa Tradex Ltd
• SEBI imposed penalties totaling Rs 35 lakh on Hexa Tradex Ltd, its promoters, and directors for violations of delisting and disclosure norms.

NABARD and Agriculture

• PM-KISAN Scheme and Initiatives
• Prime Minister Narendra Modi released the 17th instalment of Rs 20,000 crore under the PM-KISAN scheme. The Krishi Sakhi initiative aims to create 3 crore ‘Lakhpati Didis’.

National

• The Post Office Act, 2023
• The Post Office Act, 2023, effective from June 18, 2024, repeals the Indian Post Office Act, 1898, aiming to simplify the legislative framework for postal services.
• Cyber Surakshit Bharat Initiative
• This initiative by MeitY aims to spread awareness about cyber-crime and build capacities among CISOs and IT officials across government departments.
• Direct Tax Collections for FY 2024-25
• Net Direct Tax collections as of June 17, 2024, stood at Rs. 4,62,664 crores, showing a 20.99% increase compared to the same period last year.

International

• Bilateral Relations – NSA Meet of India and USA
• Indian and U.S. National Security Advisers emphasized technological cooperation and removing barriers to enhance bilateral ties.
• Immigration Policy Changes by USA
• New rules by President Joe Biden will streamline the process for undocumented spouses of U.S. citizens to obtain permanent residency.

States

• NHAI's Miyawaki Plantation Initiative
• NHAI plans to implement Miyawaki plantations across over 53 acres of land adjacent to highways in Delhi-NCR to enhance green cover.

Reports and Indexes

• Google Launches Gemini App in India
• Google launched the Gemini app in India, supporting nine Indian languages and English, aimed at enhancing accessibility through AI.

Defence

• Joint Doctrine for Cyberspace Operations
• Released by the Chief of Defence Staff, this doctrine guides commanders in conducting Cyberspace Operations in the military.

Science and Technology

• State-of-the-Art Skin Bank at Army Hospital (Research & Referral)
• The first skin bank within the Armed Forces Medical Services, aimed at revolutionizing the treatment of severe burn injuries.

Events

• Interactive Session on Dark Patterns
• The Department of Consumer Affairs participated in a session to raise awareness about deceptive designs by e-commerce platforms.

Awards & Rewards

• Neeraj Chopra Wins Gold Medal
• Neeraj Chopra won a gold medal at the Paavo Nurmi Games with a winning throw of 85.97m.
• Arjun Erigaisi’s Chess Achievement
• Arjun Erigaisi won the Stepan Avagyan Memorial 2024 in Armenia, boosting his Elo rating and retaining his position as the highest-ranked Indian chess player.

Appointments

• Dhanlaxmi Bank Appointed New MD and CEO
• Ajith Kumar KK was appointed as the MD and CEO of Dhanlaxmi Bank, effective June 20, 2024.